Decentralized Platform Shopin Leading the Way in Online Shopping Solutions

09:00 AM, August 20, 2018

Press Release

Shopping for wardrobe updates is no longer an activity leisurely taking up a Saturday morning. Nor is running out of toothpaste or dish soap cause for a frantic trip to the store late in the evening after work.

These days, online shopping has made it possible to purchase practically everything from the comfort of your couch, your kitchen, your desk at work, and with the proliferation of mobile-based shopping options, idling in line at school pick up or on lunch break from the comfort of your car or local coffee house.

The likes of Amazon and other online shopping search engines are in constant competition with web-based stores which offer a more business-to-consumer style of commerce. Both options allow consumers to browse products, sales, and new merchandise, and select customized options in the form of color, size, and other specifications.

The online shopping space has grown tremendously in less than a decade. Last fiscal year, in 2017, increased by 16%, reaching $453.46 billion USD. Online shopping is now at 13% of the total retail market value in the US, a market worth over $5 trillion USD.

The entire market is currently dominated by online retail giant Amazon. Amazon’s sales alone saw a 30.1% increase, growing to $189.61 billion USD in 2017. These numbers put Amazon as responsibly for over 70% of the overall online retail growth in the US.

Amazon is leading the way in online shopping, particularly with it’s current focus on delivery innovation. With Amazon Prime now offering free 2-day, 1-day, and even same-day delivery in select product spaces, that kind of service and convenience is hard to pass up.

Additional perks to Prime, such as free video and music streaming, Prime Photos, an excellent way to free up space on laptops and mobile devices, and an extensive Kindle lending library, make Prime even more appealing to consumers, who are ready and willing to pay the $99 annual fee to participate in the user friendly convenience of Prime.

Opponents of Amazon, and specifically Amazon Prime, have detailed and thoughtful concerns about the whole venture. It is disturbing to some that Prime has effectively created a monopoly in the online shopping world with its offers of free shipping, causing many to forego business-to-consumer online establishments in favor of Prime and it’s convenience, however third party that may be.

Additionally, with the user-friendly interface that includes fancy items like customizable and shareable wish lists, notifications, 1-click ordering, and even car delivery service in select locations, it is easy to overspend on items that would never have made it past the shelf and into the shopping cart in other online retail stores, let alone a brick and mortar store.

While the shiny yellow and black color scheme that is Amazon has caught the hearts and wallets of billions of people, there are others who still hope for a better online shopping experience.

Shopin, founded on the premise that purchasers deserve to be rewarded for certain interactions with retailers, especially interactions involving advertising and targeting points of contact, offers financial incentives for ad views, content, and customer loyalty.

Shoppers can also share and customize their purchase history and purchase data across Shopin-connected retailers, not only earning rewards for their verifiable data shared on the Shopin platform, but also ensuring a uniquely specific ad and content experience from retailers.

Shopin has been a strong presence in the cryptocurrency space since its 2017 inception, winning “Best ICO” at the North American Bitcoin Conference, incidentally, the same conference where Ethereum launched globally and won, Coinagenda Global, and the "Top 5 ICO" at d10E Seoul and Davos.

Shopin investors have raised over $40 MM in TGE. They are backed by a respectable list of investors, including Galaxy Investment Partners, Block One Capital, Nima Capital, Tom Gonser (founder of Docusign), and Chicago Crypto Fund.

Most recently, Shopin announced an exciting partnership with Asia-based cryptocurrency exchange QRYPTOS, enabling cryptocurrency holders to easily trade the native SHOPIN token on an open, fiat-free exchange. This gives existing crypto holders the opportunity to invest at the ground level in Shopin. But it also provides the freedom and flexibility to exchange other tokens on a trusted exchange platform.

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